Weslaco Retail Center - 915 East Expressway 83, Weslaco, TX 78596 | COVER LRGCOVER LRG
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Weslaco Retail Center
915 East Expressway 83, Weslaco, TX 78596
1
TABLE OF CONTENTS
Weslaco Retail Center
915 East Expressway 83, Weslaco, TX 78596
Confidentiality & Disclaimer Contents
The information contained in the following Marketing Brochure is proprietary and strictly PROPERTY INFORMATION 3
confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap
and should not be made available to any other person or entity without the written consent of LOCATION INFORMATION 7
Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified
information to prospective purchasers, and to establish only a preliminary level of interest in the FINANCIAL ANALYSIS 11
subject property. The information contained herein is not a substitute for a thorough due
diligence investigation. Marcus & Millichap has not made any investigation, and makes no SALE COMPARABLES 18
warranty or representation, with respect to the income or expenses for the subject property, the
future projected financial performance of the property, the size and square footage of the DEMOGRAPHICS 23
property and improvements, the presence or absence of contaminating substances, PCB's or
asbestos, the compliance with State and Federal regulations, the physical condition of the
improvements thereon, or the financial condition or business prospects of any tenant, or any
tenant’s plans or intentions to continue its occupancy of the subject property. The information
contained in this Marketing Brochure has been obtained from sources we believe to be reliable;
however, Marcus & Millichap has not verified, and will not verify, any of the information
contained herein, nor has Marcus & Millichap conducted any investigation regarding these
matters and makes no warranty or representation whatsoever regarding the accuracy or
completeness of the information provided. All potential buyers must take appropriate measures
to verify all of the information set forth herein.
Non-Endorsement Notice
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or
lessee identified in this marketing package. The presence of any corporation’s logo or name is not
intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation
of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial
listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee
information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS
Special COVID-19 Notice
All potential buyers are strongly advised to take advantage of their opportunities and obligations
to conduct thorough due diligence and seek expert opinions as they may deem necessary,
especially given the unpredictable changes resulting from the continuing COVID-19 pandemic.
Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on
behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing
investment properties and acting as intermediaries between buyers and sellers. Marcus &
Millichap and its investment professionals cannot and will not act as lawyers, accountants,
contractors, or engineers. All potential buyers are admonished and advised to engage other
professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions
involving the property’s physical condition or financial outlook. Projections and pro forma
financial statements are not guarantees and, given the potential volatility created by COVID-19,
all potential buyers should be comfortable with and rely solely on their own projections, analyses,
and decision-making.
2
Section 1 PROPERTY INFORMATION
PROPERTY INFORMATION | EXECUTIVE SUMMARY
Weslaco Retail Center
915 East Expressway 83, Weslaco, TX 78596
OFFERING SUMMARY PROPERTY OVERVIEW
Sale Price: $3,840,000 Marcus & Millichap is pleased to present the opportunity to acquire a fully stabilized, newly constructed 9,645-square-
Building Size: 9,645 SF foot, multi-tenant retail center that is shadow anchored by Lowe's Home Improvement and well positioned in a dense
Lot Size: 1.12 Acres retail trade area of Weslaco, Texas.
Price / SF: $398.13
Cap Rate: 6.5% DEMOGRAPHICS 1 MILE 3 MILES 5 MILES
NOI: $249,600 Total Households 2,746 16,677 30,509
Year Built: 2021 Total Population 9,743 56,557 108,863
Average HH Income $43,771 $59,222 $53,955
4
PROPERTY INFORMATION | PROPERTY DESCRIPTION
Weslaco Retail Center
915 East Expressway 83, Weslaco, TX 78596
PROPERTY DESCRIPTION
Weslaco Retail Center is a 9,645-square-foot, multi-tenant retail center located in Weslaco,
Texas. The property offers a prime opportunity for an investor to acquire a fully-leased
retail outparcel to Lowe's Home Improvement. Currently 100 percent leased, all leases are
triple-net. The tenant base is comprised of credit and regional tenants including Sport Clips,
Heroes Dental, Wing Barn, and Crumbl Cookies. The building is new 2021 construction and
is situated on a 1.1-acre lot with concrete parking. A multi-tenant pylon sign provides
additional visibility to the center.
LOCATION DESCRIPTION
The subject property is strategically positioned on West Expressway 83 and benefits from
high traffic counts of approximately 105,400 vehicles per day. Weslaco Retail Center is
located on the northeast corner of Expressway 83 and Bridge Avenue. Lowe's Home
Improvement sits to the north of the property, and a Starbucks single-tenant building will
be constructed on the adjacent pad site to the subject property. Other national and
regional retailers in the neighboring area consist of Academy Sports & Outdoors, Petco, TJ
Maxx, JCPenney, Chuck E. Cheese's, Walmart, H-E-B Grocery, Big Lots!, Tractor Supply Co.,
The Home Depot, Ross Dress For Less, Chick-fil-A, and many more. The surrounding area is
densely populated with a five-mile population of 108,863 residents. Weslaco Retail Center
is in close proximity to Weslaco High School, Sam Houston Elementary School, FD
Roosevelt Elementary School, South Texas College – Mid-Valley Campus, and an H-E-B
distribution center.
Weslaco is located at the southern tip of Texas in the Rio Grande Valley, near the Mexican
city of Reynosa, and is approximately 60 miles west of South Padre Island and the Gulf of
Mexico. Weslaco is part of the McAllen–Edinburg–Mission and Reynosa–McAllen
metropolitan areas. McAllen is a vibrant metro area and a major center for retail,
international trade, tourism and manufacturing. Every year, thousands of winter Texans
arrive to the Rio Grande Valley, during the mild fall and winter seasons, adding more than
$710 million into the local economy. Additionally, the Reynosa-McAllen Metropolitan Area
has a population of roughly 1,500,000. The metro area has been the first, second, or third
fastest-growing urban areas in the United States over the past years.
5
PROPERTY INFORMATION | COMPLETE HIGHLIGHTS
Weslaco Retail Center
915 East Expressway 83, Weslaco, TX 78596
BUILDING INFORMATION
Occupancy % 100.0%
Tenancy Multiple
Year Built 2021
County Hidalgo
Ownership Type Fee Simple
PROPERTY HIGHLIGHTS
9,645-Square-Foot, Multi-Tenant Shopping Center
Outparcel to Lowe's Home Improvement
Fully Stabilized Asset | 100% Leased with all Triple-Net Leases
Complementary Mix of Service-Oriented Businesses
Strong Tenant Based Comprised of National and Regional Retailers | Crumbl Cookies is
Currently the Fastest Growing Cookie Company in the Nation
New (2021) Construction | Situated on a 1.1-Acre Parcel with Ample Concrete Parking
Adjacent to Pad Site for a Starbucks Store that is Currently Under Construction
High-Traffic Location on Expressway 83 | Approximately 105,400 Vehicles per Day |
Excellent Access and Visibility from Expressway 83 | Multi-Tenant Pylon Sign Provides
Additional Visibility
Close Proximity to Many Schools, Providing Additional Traffic to the Area
Located in a Dense Retail Trade Area | Near Numerous National Retailers Including
Academy Sports & Outdoors, Petco, TJ Maxx, JCPenney, Chuck E. Cheese's, Walmart,
H-E-B Grocery, Big Lots!, Tractor Supply Co., The Home Depot, Ross Dress For Less,
Chick-fil-A, and More
Densely Populated Area | 111,375 Residents Within a Five-Mile Radius
Located in the Reynosa-McAllen Metropolitan Area, Serving a Population of 1.5 Million
60 Minutes from South Padre Island | One of Texas' Top Tourist Destinations
6
Section 2 LOCATION INFORMATION
LOCATION INFORMATION | REGIONAL MAP
Weslaco Retail Center
915 East Expressway 83, Weslaco, TX 78596
Weslaco Retail Center
8
LOCATION INFORMATION | AERIAL MAP
Weslaco Retail Center
915 East Expressway 83, Weslaco, TX 78596
9
LOCATION INFORMATION | AERIAL MAP
Weslaco Retail Center
915 East Expressway 83, Weslaco, TX 78596
10Section 3 FINANCIAL ANALYSIS
FINANCIAL ANALYSIS | FINANCIAL SUMMARY
Weslaco Retail Center
915 East Expressway 83, Weslaco, TX 78596
INVESTMENT OVERVIEW CURRENT
Price $3,840,000
Price per SF $398.13
CAP Rate 6.5%
Total Return (yr 1) $249,600
OPERATING DATA CURRENT
Gross Income $344,139
Operating Expenses $94,539
Net Operating Income $249,600
Pre-Tax Cash Flow $249,600
12FINANCIAL ANALYSIS | INCOME & EXPENSES
Weslaco Retail Center
915 East Expressway 83, Weslaco, TX 78596
INCOME SUMMARY CURRENT PER SF
Base Rent $249,600 $25.88
Real Estate Taxes Reimbursements $38,305 $3.97
Insurance Reimbursements $7,234 $0.75
Common Area Maintenance Reimbursements $36,000 $3.73
Management Fee Reimbursements $13,000 $1.35
GROSS INCOME $344,139 $35.68
EXPENSE SUMMARY CURRENT PER SF
Real Estate Taxes $38,305 $3.97
Insurance $7,234 $0.75
Utlities $19,200 $1.99
Landscaping $10,800 $1.12
Parking Lot Maintenance $4,800 $0.50
Fire Alarm/Fire Safety $1,200 $0.12
Management Fee $13,000 $1.35
GROSS EXPENSES $94,539 $9.80
NET OPERATING INCOME $249,600 $25.88
13FINANCIAL ANALYSIS | RENT ROLL
Weslaco Retail Center
915 East Expressway 83, Weslaco, TX 78596
CHANGES CHANGES EXPENSE LEASE
SUITE TENANT NAME UNIT SIZE (SF) % OF GLA LEASE START LEASE END ANNUAL RENT RENT/SF ON TO REIMBURSEMENT OPTIONS TYPE
(2) 5-Yr @
100 Heroes Dental (1) 3,720 38.57% 4/11/2022 4/10/2032 $93,000.00 $25.00 4/11/27 $27.50 $36,462.94 NNN
$30.25/$33.27
600 Crumbl Cookies 1,800 18.66% 11/23/2021 11/30/2026 $48,600.00 $27.00 $17,643.36 (1) 5-Yr @ $29.70 NNN
(2) 5-Yr @
100 Wing Barn, LLC 3,000 31.10% 9/23/2021 9/30/2031 $81,000.00 $27.00 10/01/26 $29.70 $29,405.60 NNN
$32.67/$35.94
200 Sport Clips 1,125 11.66% 9/29/2021 9/30/2026 $27,000.00 $24.00 $11,027.10 (1) 5-Yr @ $26.40 NNN
TOTAL VACANT 0 0%
TOTAL OCCUPIED 9,645 100%
TOTAL 9,645 100% $249,600 $94,539
(1) The Lease Term shall commence 210 days after the Date of Delivery; the Commencement Date is estimated to begin on April 11, 2022.
14FINANCIAL ANALYSIS | SITE PLAN
Weslaco Retail Center
915 East Expressway 83, Weslaco, TX 78596
15FINANCIAL ANALYSIS | TENANT INFORMATION
Weslaco Retail Center
915 East Expressway 83, Weslaco, TX 78596
CRUMBL COOKIES SPORT CLIPS
FOUNDED 2018 FOUNDED 1993
LOCATIONS 200+ LOCATIONS 1,800+
SQ. FT. 1,800 SQ. FT. 1,125
GUARANTY Personal GUARANTY Personal
OPTIONS (1) 5-Year @ $29.70 OPTIONS (1) 5-Year @ $26.40
Crumbl Cookies is a Utah based cookie chain offering a weekly rotating menu of fresh Sport Clips is a sports themed hair salon offering haircuts only. They have locations in all
baked cookies. Since opening its doors three years ago, Crumbl has expanded to over 200 50 states, and each location is independently owned and operated.
bakeries in 32 states nationwide, making it the fastest-growing cookie company in the
nation.
WING BARN HEROES DENTAL
FOUNDED 2010 LOCATIONS 6
LOCATIONS 9 SQ. FT. 3,720
SQ. FT. 3,000 OPTIONS (2) 5-Yr @ $30.25/$33.27
GUARANTY Personal
OPTIONS (2) 5-Year @ $32.67/$35.94
Wing Barn is a family owned and operated regional restaurant chain serving wings, classic Heroes Dental is a regional family dental office that operates in six locations in the Rio
appetizers such as onion rings, fries, and poppers, burgers, salads, wraps, and Texas State Grande Valley area. They offer general, pediatric and cosmetic dentistry as well as
Fair inspired desserts. orthodontic services.
16Section 4 SALE COMPARABLES
SALE COMPARABLES | SALE COMPS
Weslaco Retail Center
915 East Expressway 83, Weslaco, TX 78596
SUBJECT PROPERTY
915 East Expressway 83 | Weslaco, TX 78596
Sale Price: $3,840,000 Lot Size: 1.12 AC
Year Built: 2021 Building SF: 9,645 SF
Price PSF: $398.13 Cap: 6.5%
NOI: $249,600
BLANCO SHOPPING CENTER
1
12711 Blanco Road | San Antonio, TX 78231
Sale Price: $4,545,000 Lot Size: 1.56 AC 1
Year Built: 2017 Building SF: 7,000 SF
Price PSF: $649.29 CAP: 6.08%
Closed: 06/21/2019 Occupancy: 100%
BLANCO & PARLIAMENT SHOPPING CENTER
2
11900 Blanco Road | San Antonio, TX 78216
Sale Price: $4,500,000 Lot Size: 1.11 AC 2
Year Built: 2020 Building SF: 8,394 SF
Price PSF: $536.10 CAP: 6.2%
Closed: 03/26/2021 Occupancy: 100%
19SALE COMPARABLES | SALE COMPS
Weslaco Retail Center
915 East Expressway 83, Weslaco, TX 78596
STARBUCKS STRIP CENTER
3
8110 West Loop 1604 North | San Antonio, TX 78254
Sale Price: $4,553,705 Lot Size: 1.79 AC 3
Year Built: 2017 Building SF: 8,538 SF
Price PSF: $533.35 CAP: 6.45%
Closed: 04/12/2019 Occupancy: 100%
STONE OAK CENTER
4
3701 West Expressway 83 | McAllen, TX 78503
Sale Price: $3,375,000 Lot Size: 1.572 AC 4
Year Built: 208 Building SF: 8,654 SF
Price PSF: $389.99 CAP: 6.5%
Closed: 03/20/2019 Occupancy: 100%
802 PLAZA
5
2155 Ruben M Torres Boulevard | Brownsville, TX 78526
Sale Price: $4,630,000 Lot Size: 1.718 AC 5
Year Built: 2015 Building SF: 16,840 SF
Price PSF: $274.94 CAP: 6.51%
Closed: 09/23/2019 Occupancy: 92%
20SALE COMPARABLES | SALE COMPS SUMMARY
Weslaco Retail Center
915 East Expressway 83, Weslaco, TX 78596
SUBJECT PROPERTY PRICE BLDG SF PRICE/SF CAP
Weslaco Retail Center
915 East Expressway 83 $3,840,000 9,645 SF $398.13 6.5%
Weslaco, TX 78596
SALE COMPS PRICE BLDG SF PRICE/SF CAP CLOSE
1 Blanco Shopping Center
12711 Blanco Road $4,545,000 7,000 SF $649.29 6.08% 06/21/2019
San Antonio, TX 78231
2 Blanco & Parliament Shopping Center
11900 Blanco Road $4,500,000 8,394 SF $536.10 6.2% 03/26/2021
San Antonio, TX 78216
3 Starbucks Strip Center
8110 West Loop 1604 North $4,553,705 8,538 SF $533.35 6.45% 04/12/2019
San Antonio, TX 78254
4 Stone Oak Center
3701 West Expressway 83 $3,375,000 8,654 SF $389.99 6.5% 03/20/2019
McAllen, TX 78503
5 802 Plaza
2155 Ruben M Torres Boulevard $4,630,000 16,840 SF $274.94 6.51% 09/23/2019
Brownsville, TX 78526
PRICE BLDG SF PRICE/SF CAP CLOSE
Totals/Averages $4,320,741 9,885 SF $437.10 6.35%
21SALE COMPARABLES | SALE COMPS MAP
Weslaco Retail Center
915 East Expressway 83, Weslaco, TX 78596
SUBJECT PROPERTY
915 East Expressway 83 | Weslaco, TX 78596
1 BLANCO SHOPPING 2 BLANCO & PARLIAMENT 3 STARBUCKS STRIP CENTER 4 STONE OAK CENTER
CENTER SHOPPING CENTER 8110 West Loop 1604 North 3701 West Expressway 83
12711 Blanco Road 11900 Blanco Road San Antonio, TX 78254 McAllen, TX 78503
San Antonio, TX 78231 San Antonio, TX 78216
5 802 PLAZA
2155 Ruben M Torres Boulevard
Brownsville, TX 78526
22Section 5 DEMOGRAPHICS
DEMOGRAPHICS | DEMOGRAPHICS MAP & REPORT
Weslaco Retail Center
915 East Expressway 83, Weslaco, TX 78596
POPULATION 1 MILE 3 MILES 5 MILES
Total Population 9,743 56,557 108,863
Average age 34.20 35.50 34.20
Average age (Male) 32.60 34.10 33.00
Average age (Female) 35.70 36.70 35.40
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
Total households 2,746 16,677 30,509
# of persons per HH 3.40 3.30 3.50
Average HH income $43,771 $59,222 $53,955
Average house value $67,182 $82,588 $74,956
ETHNICITY (%) 1 MILE 3 MILES 5 MILES
Hispanic 96.3% 88.9% 91.9%
RACE 1 MILE 3 MILES 5 MILES
% White 96.7% 96.8% 97.3%
% Black 0.9% 0.8% 0.8%
% Asian 0.7% 0.9% 0.6%
% Hawaiian 0.0% 0.1% 0.1%
% American Indian 1.0% 0.8% 0.7%
% Other 0.6% 0.6% 0.6%
* Demographic data derived from 2020 CoStar Realty Information, Inc.
24INFORMATION ABOUT BROKERAGE SERVICES
Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords. 11-2-2015
TYPES OF REAL ESTATE LICENSE HOLDERS:
• A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.
• A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.
A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):
• Put the interests of the client above all others, including the broker’s own interests;
• Inform the client of any material information about the property or transaction received by the broker;
• Answer the client’s questions and present any offer to or counter-offer from the client; and
• Treat all parties to a real estate transaction honestly and fairly.
A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:
AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or property
management agreement. An owner's agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known
by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.
AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer's agent
must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed
to the agent by the seller or seller’s agent.
AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written
agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary:
• Must treat all parties to the transaction impartially and fairly;
• May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice to,
and carry out the instructions of each party to the transaction.
• Must not, unless specifically authorized in writing to do so by the party, disclose:
that the owner will accept a price less than the written asking price;
that the buyer/tenant will pay a price greater than the price submitted in a written offer; and
any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.
AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent
the buyer and must place the interests of the owner first.
TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH:
• The broker’s duties and responsibilities to you, and your obligations under the representation agreement.
• Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.
LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please
acknowledge receipt of this notice below and retain a copy for your records.
Marcus & Millichap 9002994 tim.speck@marcusmillichap.com 972-755-5200
Licensed Broker /Broker Firm Name or Primary Assumed Business Name License No. Email Phone
Tim A. Speck 432723 tim.speck@marcusmillichap.com 972-755-5200
Designated Broker of Firm License No. Email Phone
Licensed Supervisor of Sales Agent/Associate License No. Email Phone
Sales Agent/Associate’s Name License No. Email Phone
Buyer/Tenant/Seller/Landlord Initials Date
Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov
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